Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h +0.001%

Price spread now: gTrade (Gains Network) against Kalshi+0.306%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2962.964% of the position

Long on Kalshi Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.306%, 7d avg +0.031%

Together, before fees−0.115%−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.274% dearer against Kalshi than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.3077	0	get 0.0000% / 8h	2h 59m	$380K	$18.8M	2.2x
Short	gTrade (Gains Network) NEAR/USD	4.3209	L +0.0004% / S −0.0004%	get 0.0001% / 1h	59m 05s	$157K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KalshibpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.306%Rate

Funding earned: $0.91
Price spread: +0.306% → +0.031%: $27.43
Slippage, 4 orders: −$276.37
Fee Kalshi: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$268.03
Costs to cover: 2.964%
Break-even: 2072.7 days

Slippage from Kalshi: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kalshi live order book, 5 min ago	6.82 bp	11.8 bp −$12	18.1 bp −$181	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 10 min ago	130.01 bp	137.7 bp −$138	1007.8 bp −$10.1K	doesn't fit	doesn't fit

NEAR on 45 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya NEARRUSDPERP	−0.0171%	1h	4.3175	+0.227%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3214	+0.318%	$2.2M	$13.3M	50x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.3077	long leg	$380K	$18.8M	2.2x
dYdX NEAR-USD	+0.0003%	1h	4.3096	+0.045%	$112K	$64K	10x	as long as short
gTrade (Gains Network) NEAR/USDshort	L +0.0004% / S −0.0004%	1h	4.3209	+0.306%	$157K	—	150x
Variational Omni NEAR	+0.0016%	8h	4.2957	−0.277%	$8.2M	$18.8M	—	as long as short
Phemex NEARUSDT	+0.0025%	8h	4.3250	+0.402%	$3.8M	$8.4M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.870%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3190	+0.262%	$115K	$474K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3271	+0.450%	$57K	$162K	20x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.3195	+0.274%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3174	+0.225%	$406K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3265	+0.437%	$258.3M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3238	+0.374%	$220.2M	$416.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3280	+0.471%	$60.9M	$277.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3170	+0.216%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3243	+0.385%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3253	+0.409%	$31.0M	$59.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3250	+0.402%	$75.6M	$135.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3270	+0.448%	$55.8M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3268	+0.443%	$71.5M	$122.7M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3270	+0.448%	—	$142.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3202	+0.290%	$257K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2940	−0.318%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3200	+0.286%	$177K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3206	+0.299%	$209K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3290	+0.494%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3225	+0.344%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3260	+0.425%	$451K	$3.7M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3113	+0.083%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3198	+0.280%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3228	+0.351%	$201K	$31K	3x	as long as short
01 Exchange NEARUSD	+0.0192%	1h	4.3209	+0.306%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0219%	1h	4.3277	+0.465%	$7.9M	$37.9M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	+0.425%	$13.2M	$27.7M	75x	as long as short
Lighter RH NEAR	+0.0320%	1h	4.3289	+0.492%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0308%	1h	4.3210	+0.308%	$276K	—	100x	as long as short
Nado NEAR-PERP	+0.0420%	1h	4.3180	+0.239%	$1.9M	$3.1M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3191	+0.265%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3198	+0.281%	$414K	$1.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0768%	1h	4.3271	+0.450%	$1.9M	$3.9M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.1066%	1h	4.3324	+0.573%	$1.3M	$5.9M	20x	as long as short
Hyperliquid NEAR	+0.1226%	1h	4.3339	+0.608%	$367.1M	$302.2M	10x	as long as short
Aftermath Perps NEARUSD	+0.1466%	1h	4.3204	+0.296%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.3343	+0.617%	$17.3M	$24.3M	15x	as long as short